FxWirePro: USD/JPY spikes past 106 handle, hits 3-week high at 106.10

USD/JPY chart - Trading View 

USD/JPY reversed previous session's losses and spiked past the 106 handle to hit 3-week high.

The major was trading 0.45% higher on the day at 106.08 at around 11:00 GMT.

Strong pickup in the US Treasury bond yields and the equity markets was seen supporting the pair higher.

Price action has broken 50-DMA resistance which was capping upside from the past few session.

Momentum has turned bullish on the intraday charts. Break above daily cloud will see test of channel top at 106.65.

Focus now on the release of the latest FOMC monetary policy meeting minutes for further trading impetus.